As we head into fall, we can look back over the last 3 months to get a sense of the market activity for July, August and September. With that data, and the day-to-day current trends we can read the overall market activity; helpful insight for planning! The below link takes you to the last 90 days of reported data. Our additional blog post on “September 2022 vs 2021” will give you insight into this year vs last year.

As we look at the report below the general trends are:

  1. This is a still sellers market but not as HOT as we saw the last 2 years.
  2. There is more on the market now than a few months ago although still less than buyer demand. This means there are more choices for buyers, more competition for sellers and bottom line: planning and the right action plan will make the most impact in this market.
  3. The length of time on the market is trending UP – meaning you can expect a home to last a bit longer on the market than we saw last year, however the amount of time on the market still is well within the length of time to be considered a sellers market. As we highlighted in our earlier blog post, anything 180 days or less on the market keeps us in a sellers market. Right now the average days on market is trending 15-20 days on the market; keeping us still in the range of this being a strong market.

There is no doubt that rising interest rates are influencing buyers decisions and affordability. That coupled with more listings hitting the market is really leading to a lot of clients reaching out to better understand their current market value and the best way to navigate today’s market.

Let’s talk about your plans and how you can best move forward in today’s market! Reach out to me by clicking here: MESSAGE JOHN

You can view the full report here: 3rd Quarter 2022 QUARTERLY MARKET TRENDS REPORT

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We moved to the Grand Rapids area 11 years ago and John was very patient as we found our first home and made the experience absolutely seamless! When we were ready to sell and buy again we knew to reach out to John. As we remembered and appreciated, John is an absolute professional and was and advocate for our best interests at all times during this wild market. We found great value in our new home and he helped us get top dollar for our sale. Grateful to have him on our side though the whole process. You won’t be disappointed!
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It was a wonderful experience working with John. His professionalism, honesty, experience, and knowledge of the Grand Rapids market, helped us in multiple ways. John sold our home in one day, was honest about what we could expect from offers, and was spot on. As we progressed toward finding our new home, again, he was extremely knowledgeable about the neighborhoods, home values, and history of the homes. We are more than happy to say, that he helped us find our dream home within our budget! Anything I needed, he was there through emails, texts, or phone calls. He definitely put in a lot of work for us. Without a doubt, I will ask for his assistance again when the time comes. Thank you John!
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